Market News Page No. 216| Africa Business News | Afrotrade

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Tanzania: TANESCO to Spend $500,000 to Electrify Moro Suburbs

Dodoma — Tanzania Electric Supply Company (TANESCO) will spend over 1bn/- to implement a power project planned to nearly 900 new customers in Morogoro. The Mindu power project involves construction of a 8.9-km long transmission line with 33kV, a 35.4-km long 400kV power line and fixing seven transformers. This was disclosed yesterday by Energy and Minerals Deputy Minister Dr Medard Kalemani. The project, he said, is set.... Read more »

Posted on : Wednesday , 8th February 2017

Africa: What is limiting Africa's Resurgent Mining Sector?

Kampala — For the first time in years, there is a mood of cautious optimism in the mining industry, with commodity prices on the rise, shallow growth returning to different end markets, and most mining companies in better cost positions than in the recent past. However, the industry is still at a pivotal point as it faces challenges from cybersecurity threats, to technological disruption and environmental issues. Mining.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: President Urges Defense Forces to Procure Local, Boost Industries & Economy

Defence and security organs were yesterday told to embrace the government championed industrial economy, through setting up of factories to add value to locally produced raw materials. "Why should we import uniforms for members of the armed forces and yet we produce cotton in large quantities? Even if it means producing garments from locally available sisal, let it be so," President John Magufuli ordered in Dar es Salaam.... Read more »

Posted on : Wednesday , 8th February 2017

East Africa: TAZARA Secures New Haulage Orders of Over 165,000 Tonnes

Dar es Salaam — The Tanzania-Zambia Railway Authority (TAZARA) has secured new orders to transport at least 165,000 tonnes of freight for various companies on the Copperbelt Province of Zambia this year following a renewed confidence to the hauler. A statement issued by the company's Dar es Salaam office indicates that the freight orders follow TAZARA Managing Director's visitations to various shippers and logistics companies in.... Read more »

Posted on : Wednesday , 8th February 2017

East Africa: Dar es Salaam Port has Potential to Turn Tanzania Into A Trade Hub

Dar es Salaam — Tanzania should open up its Dar es Salaam port to trudge cargo volume, expand and build new transport links to make Tanzania a regional hub while turning the country as Dubai of East Africa, the East African Business Week can report. "The Dar es Salaam port is an engine for economic growth, if we invest in logistic centers, improve on infrastructure and create a facilitative environment, we can easily turn Dar.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Chinese Mega Investors to Invest in Special Economic Zone

Dar es Salaam — Tanzania expects nearly 1,000 Chinese extra-large investors promising to invest in a special economic zone including textile, manufacturing, fishing, mining and agriculture across the board following mutual bilateral relations between the two countries. "Massive investments will come from large scale Chinese investors eyeing to invest in those sectors to boost the country's financial income through Direct.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Chinese Mega Investors to Invest in Special Economic Zone

Dar es Salaam — Tanzania expects nearly 1,000 Chinese extra-large investors promising to invest in a special economic zone including textile, manufacturing, fishing, mining and agriculture across the board following mutual bilateral relations between the two countries. "Massive investments will come from large scale Chinese investors eyeing to invest in those sectors to boost the country's financial income through Direct.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Chinese Mega Investors to Invest in Special Economic Zone

Dar es Salaam — Tanzania expects nearly 1,000 Chinese extra-large investors promising to invest in a special economic zone including textile, manufacturing, fishing, mining and agriculture across the board following mutual bilateral relations between the two countries. "Massive investments will come from large scale Chinese investors eyeing to invest in those sectors to boost the country's financial income through Direct.... Read more »

Posted on : Wednesday , 8th February 2017

Kenya: France Overtakes Japan to Become Kenya's Second-Largest Bilateral Creditor

Nairobi — France has overtaken Japan as Kenya's second-largest bilateral creditor accounting for 2 percent of external debt. France has extended credit in the form of concessional Treasury loans and credit-export guarantee to a tune of Sh78 billion. French Minister for the Economy and Finance Michael Sapin said France will continue its increased focus on supporting the private sector through the financing of the banking.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Oil & Gas Firms Reject Local Content Obligations

Differences between Tanzania and oil companies over local content obligations contained in Petroleum Act 2015 have resurfaced with the government collecting stakeholders' views in efforts to enforce regulations. The companies through their organisation, Oil and Gas Association of Tanzania (Ogat) last week told the Energy and Water Utilities Regulatory Authority (Ewura) that they are uncomfortable with the local content requirement in.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Local Firms to Gain Huge Business from SGR Construction

Construction of the first 300-kilometre stretch of the standard gauge railway between Dar es Salaam and Morogoro begins from next month to mark the beginning of one of the major infrastructure projects under the second Five-Year Development Plan (2016/17- 2020/21). State-owned Reli Assets Holding Company Ltd (RAHCO) signed an agreement with a joint venture of Turkish firm Yapi Merkezi and Portugal's Mota-Engil Engenharia e.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Joint Venture by Portuguese, Turkish Firms Wins SGR Construction Contract

A joint venture between a Turkish and a Portuguese firm has won a tender for construction of 205 kilometres of Tanzania's standard gauge railway, part of the 1,216km stretch that will eventually link Dar es Salaam with the rest of the country as well as with Rwanda and Burundi. The project, to be constructed at a total cost of $1.215 billion, will be undertaken by Yapi Merkez Insaat Ve Sanayi (Turkey) and Mota-Engil, Engenharie and.... Read more »

Posted on : Wednesday , 8th February 2017

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